tv CNN Newsroom CNN August 11, 2011 8:00am-10:00am PDT
he may do that on stage tonight. >> all eyes on iowa today and this weekend. we appreciate you, as always. let me hand this over to suzanne malveaux. you like that. >> it is actually true. then standing -- bales of hay. fried butter is common, too. that's what they eat at the fair. fried butter. everything is fried. if you like fried food you are good. all set. >> in arkansas we fried it all good you have to try the fried butter then. >> getting right on it. all yours. i will see you. live from studio 7, i'm suzanne malveaux. stocks shot out of the gate this morning and investors have not looked back. at least not yet. right now do you ever do you blue chips are up. volatile is the key word of the day. when it comes to stocks, gains con this week's patter of up one day and down the next. positive signal today for people looking for work.
fewer americans filed first-time jobless claims last week. the labor department says that it got 395,000 initial claims. that's a drop of 7,000. it is the first time the number dipped below 400,000 since early april. united nations says that the drought ravaging the horn of africa has not peaked. that means a long-term threat of famine. the u.n. says 12 million people, if you can believe that, are at risk. desperately needs more than a billion dollars to feed them. musician and activist bono talked to anderson cooper who is reporting from somalia this week. >> people watch the values, you know, stock values, crumble while, you know, i think about our own sense of values tumbling. because this will define who we are. this is a defining moment for us. there's lots to distract us.
>> few protesters challenged police but streets in london and other cities were mostly calm overnight. in fact, there was much more action in the courts as judges stayed on the bench. all night to process hundreds arrested in this week's rioting and looting. prime minister cameron told an emergency session of parliament that more arrests are coming. >> will technology work for us by capturing the images on tv so even if they haven't been yet arrested, their faces are known and they will not escape the law. >> analysts estimate that violence and looting cost at least $161 million in damage and lost sales. los angeles police are expanding their investigation into the grim sleeper serial killer case. suspect franklin jr. is charged with the murders of ten women. the detectives will now review 230 missing persons case and
homicides in franklin's neighborhood. going back to the 1970s. the grim sleeper case got its name because of a 14-year gap in the killing spree. a brother, sister crime team is in custody and facing charges in three states today. police captured the dougherty trio after a wild west chase and shoot-out along interstate 25 in colorado. it ened with when the fujtives flipped their sub row and crashed. the siblings' crime spree started eight days ago when they took shots at a florida police officer and robbed a bank in georgia. >> they were prepared for a battle. that's what they got. >> the female defendant took off running through a field. she had an automatic pistol. she turned and made an attempt to chamber around and point it at the officer. and he fired at least one shot. striking her. i believe in the leg.
>> it is not clear when the doughertys will make their first court appearance. keep an eye on the top of the video. this is unbelievable. she is walking down the street minding her own business when she is covered practically smothered. a truck flipped over burying a woman in china, under 20 tons of garlic and onions. that's right. she survived. she is a bit bruised, battered, a little smelly as well. stocks bounced in positive territory. markets got a boost today from the encouraging report on unemployment claims. but still could be a pretty bumpy ride ahead. i want to go to alison kosik at the new york stock exchange. what are we seeing the markets do today? how are they behaving now? >> right now at least we are off that roller coaster ride for the time being and seeing stocks at their highs of the session. nasdaq up by more than 3%.
the s&p is up by just as much. yes, i think what you are seeing is investors focusing on the better than expected jobs report. we got pretty deese enearnings from cisco systems that says it is making progress at cost cutting measures. even those result in job cuts. the market does like to see progress being made. this is a market on edge. these numbers can change on a dime. especially when it is market that's being driven by each and every headline that comes out. >> that's right. all of this volatility, do we think that it is leading to more concerns of another recession? >> you know what, if you look at the week, thousand week has gone, some trainers i have been talking to say what you have been seeing is a market pricing in, growing likelihood we could go into a new recession, you are also seeing this in a cnn money survey. the economists are upping their orders of a recession from 15% to 25%. even more notably economists are upping that to 50/50. they blame this recent sell-off.
you have to remember that a sell-off does not necessarily lead to a recession, sure, hurts our feelings of being wealthy and makes us feel less wealth write when we see our investment accounts go down as they have this week. it hurts our confidence and has the psychological effect and could cause americans to pull back on their spending. that's really where you can see it hurt because it is that self-fulfilling prophecy where you see that spending cutback and that could hurt the economy. >> alison, we are trying hold on here and not panic during this roller coaster ride. thank you very much. here is our chance to talk back on one of the big stories of the day. today's question, does hollywood making a bin laden movie warrant an investigation? carol costello is joining us from new york to explain the story. carom, what's th carol, what's this about? >> does hollywood making a bin laden movie warrant an investigation? that question, like everything else in washington, has become a
political hot potato. sad thing since bin laden's death was so unifying. >> tonight i can report to the american people and to the world that the united states has conducted an operation that killed bin laden. >> remember how people celebrated after the president said that? it was a secret mission that played out a whole lot like a hollywood movie. and don't you know it, a hollywood movie will be released in october of 2012 just ahead of the november elections. republican representative peter king is outraged. >> we are talking about revealing classified information that can put american lives at risk. what the administration has done. >> he wants the defense department and cia's inspectors general to investigate whether hollywood is getting special access, you know, declassified information, from the president. the white house says, "please."
>> first of all, the claims are ridiculous. when people, including you, in this room, are working on articles, books, documentaries, movies that involve the president, ask to speak to administration officials, we do our best to accommodate them to make sure the facts ring correct. >> it is not like the white house is giving hollywood permission to use those bin laden death photos or the video of bin laden being buried at sea for the film. for those of you keeping score, though, at home, it has been only a little over three months since bin laden was killed. come 2012 the story of the top secret mission will be opening at a theater near you. the question this morning, does hollywood making a bin laden movie warrant an investigation? facebook.com/carolcnn and i will read your responses later this hour. >> i wonder who will play bin laden. i wonder who the actors will be that will star in the movie. >> there's all kinds of fodder for that, don't you think?
>> i know. that's a whole other bit of controversy. maybe no controversy. it would be fun to come up with actors that would play the real life roles. >> absolutely. we do that over the weekend. carol, thanks. appreciate it. a run-down of the stories we are covering. who is to blame for the volatility in the markets? we are going to ask a long-time trader. a father asks why do we have to kill one another after losing his son in the british riots. also, two mentor toured the country to draw attention to poverty and are throwing blame at the president. talked with radio host tavis smiley and cornell west in the studio. >> run! >> a bull on the loose downtown. it is all on video. turning sewage into drinking water in bone-dry texas. >> that's not a good idea at all. >> no idea?
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[ male announcer ] want to pump up your gas mileage? come to meineke for our free fuel-efficiency check and you'll say...my money. my choice. my meineke. we are watching the markets and stocks are in positive territory so far today. encouraging report on jobless claims helped push stock higher. the dow jones industrials looking at up 268 points. we are going to keep you updated on how the markets are doing throughout the day. all the come eggs on wall street, evens that e-trade baby freaking out. check out this spoof of this
well-known ad. >> just dropped 200 points! this is not happening. dear lord! [ bleep ] i think i'm going to be sick. i'm going to jump out the window now. >> we all feel that way. e-trade baby. but watching the dips, dives, market, these days, makes a lot of people feel uneasy here. especially of those retirement funds are tied to wall street's wild ride. i'm joined with someone and insider's view of a situation on the floor. a trader on wall street. kenny, you know, we know there are a lot of factors at play when we ask why the markets have been tanking. you know, this is not just a downward decline. we have seen traders, buying, selling, at the frantic rate, chairman of the australian stock exchange said the average amount of time a trader holds on to a stock is down to just about 20 minutes. can you tell us why are the stocks moving so much faster now?
>> you know, suzanne, you have to understand who we are talking about when they make that statement like that. if you are talking about a day trader, someone that makes their living trading stocks, that very well may be true. if you are talking about joe public and average american investing for their retirement or education or investing for a future reason, then that's absolutely not the case. those are people that are committed long term and they buy and they hold. today what we are seeing and what we have seen -- go ahead. >> no, go ahead. tell us what are we seeing today. >> so today what we are seeing, political market is -- up at the moment. up 265. it is finding its level and had some technical damage done important the market over the last week and a half which is really more just the market having reprised risk from around the world. taking into account macro data we see coming out of europe and the states. coupled with political drama taking place around the world and market now takes a step back and reprises risk which is what we have seen. people should not really be
concerned about that. because what gets lost, i think, in the conversation is just because the market is under pressure doesn't mean there is no one on the other side. people don't just sell into the abyss. there's always -- when there is a seller there is always a buyer. >> explain to us how this actually works. you know, you have a behind-the-scenes look here. is this a matter of just electronic triggers, online trading, computer will kick in and trade, buy, sell? are they day traders trying to make a fast buck? >> well, certainly that's one segment of the population. day traders and high frequency traders that rely on computers to make buy and seldesitions for, you know, for -- pennies, right? that's really not what is pushing the market around. technology created efficiencies in the market and helped manage risk in the market and risk for asset managers. if you are talking about that small segment, yes, computers allow them to make instantaneous trades back and forth in and out all day long.
absolutely true. not the driving force behind what goes on here. >> explain to us because in the eyes of the general public, driving motivation on wall street seems to be turning a quick buck here. why should people trust wall street with their long-term investments like retirement funds? >> well, because if you are looking for growth, right, stock market has been the place to come when you talk about long term, you are investing in the future of companies, invest something the future of america and of international companies when you come here because we have u.s. blue chip companies, we have foreign blue chip companies that trade here. so, therefore, in terms of real growth, long-term investment, stocks have always been one of the asset classes you should use. so -- on days like -- on we have seen the last week and half when the market is under pressure due to kind of changing in forecast, global forecast, u.s. forecast, long-term investors should actually view it as an opportunity because the mark receipts on sale at the moment. when you go to macy's, 40% off.
what do people do? they go in and buy. it is 40% off. that's essentially what you are seeing here. in long-term investor wants to add to their portfolio, days like today, days like we have seen have been very good. >> we want a good day. appreciate it very much. thanks. here is a look at today's choose the news choices. voting for the story you would like to see. 17 navy s.e.a.l.s were killed in afghanistan over the weekend. we will hear from military experts about the long and expensive process to shore up the ranks of the country's most elite fighting unit. second, in the middle of a war zone, one libyan man has a unique weapon. he is using his paint brush in the fight for freedom. and each of his portraits has a message to the country's dictator. or third, secret american agents heading south and helping fight the drug war in mexico. a closer look at the new partnership between the u.s. and mexico that may be behind some recent high-profile arrests.
you can vote by texting 22360. text one for shoring up navy s.e.a.l.s. two for libya's street artists. three for u.s. agents to mexico. winning story will air the next hour. people in britain may have had enough. we are going to show you how they are using social media to reclaim their streets from rioters. a live report from london. [ male announcer ] to the seekers of things which are one of a kind.
pakistani men were killed. trying to protect a business. it is just more pressure on already strained relations between britain's black and asian communities. the father of one of the victims delivered a plea for peace. >> blacks, asians, whites, we all live in the same community. why do we have to kill one another? why are we doing this? you lost my son. step forward if you want to lose your sons. otherwise calm down. go home. please. >> a growing number of british residents are now taking matters into their own hands to protect their communities. it is creating another problem for police. [ bleep ]. >> reporter: pauline pierce
became the voice of london when when this individual yoep went viral. >> get real, black people! get real. >> reporter: london is fighting back. as this video from the garden n i video shows, dozens of would-be looters before the police showed up in their neighborhood. in the north of the city, angry local residents chased after any suspected looter. anger that verged on mob violence. riot police faced off not with looters but local residents. >> my office needs to focus on rioters and looters. not vigilantes. ones that help us are the community representatives who go and speak to people from their community and get in the way and get them home. >> london police set up a
flicker page with photos of looting suspects, appealing to the public for help identifying them. that has inspired medicine to set up their own pages like catch a looter. also using hash tags to outtwitter users that have admitted to looting. others are using social media to get the city back on its feet. riot cleanup is organizing neighbors and equipping them with brooms with the hope solidarity will speed recovery and keep the violence at bay. >> today we heard from the prime minister cameron who said police admit they waited too long to take action against these rioters. do authorities think that they got the situation under control now? >> they do. there is always the fear that this could happen again. again, there is a lot of frustration and anger just under the surface. it doesn't take much to spark it up again. basically what the prime minister said was that the problem was police thought of this as a public order problem.
not criminality problem. and that is why the police say they basically waited too long. and it does appear now that the police are willing to take much tougher measures and have a water cannon on 24-hour notice and will be using batons possibly. these measures could keep things in line. the next flares up. >> let's talk about the root cause of the problem. we heard the prime minimum blaming volumeens on -- violence on opportunistic gangs and thugs. a man was killed by police and prompted a demonstration and riots started. what do we know about this investigation into this initial killing? >> that independent police investigation is still going on. we do know a few things, for example, police initially claim there is an exchange of gunfire between the man mark duggan and police. that's now being called into question because it was found
that the firearm that the suspect had in his possession 00 been fired at all. a lot of questions are being asked. the family says they want justice but don't want to see this kind of violence being conducted in his name. it does appear even though that shooting was the initial spark, what carried on afterwards was that sort of opportunistic criminality and prime minister today said part of the blame lie was gangs. he's actually talking to people in l.a. and new york that have dealt with gang violence there. the hope that their expertise will help here in britain. >> all right. thank you so much. we appreciate it. they say that the government is turning its back on the poor. talk show host atf its smiley and cornell west join us to talk about their poverty tour. find out what they want the president to do. also, we were curious about the definition of poverty in the united states. based on the income of a family of four, what's the poverty guideline that's set by the government? is it $22,000 a year?
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of family of four what's the poverty guideline set by the government. $22,000 a year, $32,000, $42,000? the answer, $22,000. according to the department of health and human services a family making below that amount means it -- meets the definition of poverty. here is run-down on stories we are working on. two men who think president obama is not doing enough to get millions of americans out of poverty. my conversation with cornell west and tavis smiley. a texas town that's bone dry from drought turns its desperate eye to what some call a disgusting water source. later, your answer to today's talk back question is congressman peter king right to call for an investigation into a movie on the hundred for osama bin laden? these are tough financial times for many of us. especially important the millions of americans who are living in poverty. almost 44 million people were living below the poverty line in
2009. that's according to the most recent figures from the census bureau. talk show host tavis smiley and they have been critical of president obama, accusing him of neglecting the poor and are with us in the studio this morning. thank you very much for joining us. >> very blessed to be here. >> i'm going to start with you, tavis. what have you seen on the road when you talk to people and talk to families, what are they dealing with? what's poverty look like? >> the new poor in this country are the former middle class. it has been so easy politically speaking, as you know, as you well know covering the white house for so many years, talking about the middle class. middle class is falling quickly into the poor. a report was put out from 2008 to 2009, more american children fell into poverty during that one year during any other time during recorded history. the poor are growing exponentially in this country.
at the same time being rendered invisible. poverty is at the periphery of the conversation and should be at the epicenter. >> what's it look like? are we talking about people that don't have running water? people that don't have televisions? what's poverty look like in this country? >> number of different forums. sleeping on the street in washington, d.c., white poor family in mississippi, takes a number of different forums. for the most part it has to do with not acknowledging for dignity and the precious humanity of poor people of all colors. not enough food. not enough jobs with a living wage. not enough housing that are decent. of course, we began with our indigenous people which is to say our -- brothers and sisters. >> you have been critical of the president. the president has put forward ideas and plans. he is talking about trying to extend unemployment benefits, provide more food stamps and stacks breaks for families. why the criticism? why do you say he needs to do more? >> well, i think the president ought to do more. i hate white people try to
get -- if we are only talking about the president, i don't care how many times we call the republicans obstructionists and how many times they have to stop say nothing and how many times we say they are so much worse than the president. people want to focus for ratings and for sensationalism on our comments about the president. having said that, the president ought to do more. the poor ought to be a priority and ought not to have signed that debt ceiling legislation. that raised the ceiling and put a hole in the floor that poor people are falling through with no extension of unemployment benefits. when you say the president wants to extend unemployment benefits why sign legislation that did not extend unemployment benefits? that's the question. >> you understand that he has to work the republicans and congress and can't unilaterally act on his own. professor west, have you said before specifically to the president that you don't believe he has the backbone here to push this forward. why see this as some sort of character flaw as opposed to a different approach to poverty? >> intensity of the fight. we laid a wreath for martin luther king, coretta scott king, these are folk that fought
intensely and for -- keep in mind not just president. we are talking about greedy people on wall street. a disproportionate amount of wealth. 400 americans have more wealth than 150 million americans. that level of wealth and equality is morally obscene. there is no justification for that. the president has to make a stand. are you on the side of the wealthy? are you on the side of poor and working people? that class war, ugly -- that's why king is so important, we don't want revenge or hatred. we want love and justice. that class war has been going on for a while and getting worse and worse. >> talk about the class war. a lot of attention about your criticism of the president and you have said before you called him black mascot of wall street, black puppet who has certain fear of free black men. why go will? why inject race into this? >> it is a matter of trying to tell the truth. if you have tim geithner and larry summers coming out of wall street, that's why wall street
is doing well, main street is not. it is an objective fact. >> you say black puppet. why that? >> he is a black man. should i say mass dot? >> why not? >> well, because as a president who is historically unprecedented and being a black president, there is some expectation he would have -- gentleman ma'am on the corner. he is a black man and also a black brilliant man and black charismatic man. his wife is a brilliant black woman. a beautiful black woman. i have nothing wrong with saying black. if i talk about jewish genius stev steven songheim. >> do you think it has been unfair that t criticism have you gotten from the black community you spoke out and been so critical of this president? >> talk about the poor, the more you talk about the poor, closer you end up on a cross. there is a reason there is not a poor people's campaign or
movement in this country. because there -- disposable and throwaway and forgotten community. when you do this kind of work, you are going to be a challenge. sometimes with merit and sometimes without merit. it is about keeping the focus on the poor people. we don't waste our time. i don't. dr. west doesn't. responding to a bunch of senseless criticism. >> any time in america you know what color you are, talking about poor people's dignity you better put your cemetery clothes on and be coffin ready because you could die any minimum. that's how much you love the poor people. we are not in it to be popular. we want to serve. we are christians. >> very popular. we appreciate you bringing attention to this issue of poverty very much so. >> congratulations on your show. >> thank you. >> salute to the work you do. >> thank you very much. >> absolutely. >> appreciate it. reminder to vote for the story you would like to see. text one for shoring up navy
s.e.a.l.s. military experts detail the process. to replace 17 killed in this week's helicopter crash. text two for libya's street artist. libyan using his paint brush in the fight for freedom. text three for u.s. agents to mexico. secret american agents heading south and helping fight the drug war in mexico. winning story will air in the next hour. the desperation now for water in texas. >> reporter: when you hear people say these people will be drinking their ownure zblin there w -- own urine. >> a guy said at least he gets to drink his beer twice. t. three out of four doctors recommend the ensure brand for extra nutrition. ensure clinical strength has revigor and thirteen grams of protein to protect, preserve, and promote muscle health. and immune balance to help support your immune system. ensure clinical strength...
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70 miles east of oklahoma city. the device was disabled with a water cannon and taken to an fbi lab. law enforcement official tells cnn that they don't know what kind of damage it could have caused. in washington state a teenage boy who was pulled out to sea by strong currents survives. he was part after church group visiting long beach when witnesses say a rip tide dragged him under water. after several days intensive care. he is awake and talking to doctors. >> there is a bull! it is come thing way, partner! run! >> not your usual night on the job for police in auburn washington. they were chasing -- that's right -- a bull through downtown in their squad cars. it was eventually caught. month one was injured. strange. the drought in texas has hit one town. so hard it is planning to recycle the -- get this, this is sewage into drinking water.
cnn's ed lavandara found out some residents are not happy about that. >> in this withering west texas patch, oil still flows. problem is that you can't drink it. finding water is getting tougher. which brings us to the town of big spring. this is the spring in big spring. more than 100 years ago it was a popular watering hole for settlers heading west. those days are long gone. you won't believe what people around here are having to do now to find drinking water. crews are now building a $13 million water troomt plant that will turn sewage waste watt near drinking water by the end of next year. the treated raw sewage water will be mixed with lake water and treated again three times in all. >> i will never drink it. >> reporter: the idea still doesn't taste right to the a lot of people. >> that's not a good idea at all. >> reporter: you don't like it? >> no. if they do we are going have to
leave town. >> reporter: really? >> yeah, yeah. that's too much. >> reporter: are you the salesman for this plan? >> somebody has to. >> reporter: john directs the colorado river municipal water district. it is his job to find drinking water for half a million people in the area around midland odessa. he has to get people past one big hurdle. when you hear people say oh, my god, these people will be drinking their ownure zblin there was a fellow in midland i heard make a comment that said at least he gets to drink his beer twice now. >> this part of west texas has only seen about three inches of rain in the last year. the drought is drying out the areas in three reservoirs. this is what's left of the reservo reservoir. it is the only source of drinking water for the nearby town of robert lee. problem is that there's less than 1% of the water left. robert lee mayer, john jacob says the water situation is so dire that his town could run out of water in six months. emergency pipeline is in the works but he thinks turning
waste water into drinking water is the future. >> on the surface of it, that doesn't sound appealing, does it? >> not appealing. going thirsty isn't either. >> this is the water we are going to be picking up and taking it back through the new water treatment plant we are building. >> reporter: this new water treatment plant will provide 2 million gallons of water every day and actually john predicts people will really like it. you are saying this process is actually -- could make it taste better? >> it could. it will be -- as good a quality water with less -- you can find anywhere. >> reporter: john says he will be the first in lynn to pour himself a glass. ed lavandara, cnn, big spring, texas. >> which white house hopefuls are converging on the all important iowa state fair today? we have live pictures, i believe, that mitt romney is one of those folks who has taken to the podium. we see him there at the state fair in des moines making a speech.
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fried butter, is it all that good? >> reporter: you can never have enough and it is so good for you. honestly, this -- right now, this is the center of the campaign. iowa. that's why we brought the bus here. you have to debate tonight, presidential debate tonight in iowa. first one in nearly two months since ours in new hampshire back in june. you have that straw poll on saturday at ames, iowa. which is crucial, race for nomination. live pictures now just about 50 john edwards behind me. mitt romney, former massachusetts governor, republican candidate. he's talking right now to the crowd. romney is not -- not making many visits. he's here for the debate and is speaking right now at the state fair. guess who is coming here as well? sarah palin. that's right. our political reporter learning last night sarah palin is bringing her one nation bus tour to iowa. maybe later today probably maybe tomorrow or saturday, this is a big surprise. suzanne, every time palin drops out of the spotlight she jumps back in and maybe that's what
she is doing. palin says she will decide by september whether she will run for the republican presidential nomination. we are keeping our eyes on rick perry. saturday in south carolina, make a speech where he is going to make it clear he is running for president. all this stuff happening at the same time. >> full house there. lot going on there where you are, paul. do we know who the favorite is going into tonight's debate? >> reporter: well, one way to look at that would be polling. we have brand-new cnn poll. we put it out this morning. check this out. republicans and independents who lean republican nationwide. look who is on top there. romney, look who is just behind them. perry, who hasn't even announced yet. there you have rudy giuliani, former new york city mayor, palin and ron paul, congressman from fiction. not too far behind. pretty tight pack up there at the top. palin and giuliani out because while they are flirting with the run for the white house, they haven't taken any concrete steps. look, romney is still on top. perry not far behind. you can see paul and everybody else in single digits. we are at the state fair today and tomorrow. then go to ames for the straw
poll. i will grab you fried twinkies and send them to atlanta. they are tasty. >> i noticed the truck behind you, fried twinkie stand there. pick one up for me. thank you. part the best political team on television. you know where to go, cnnpolitics.com. getting a lot of responses to talkback wes. does hollywood making a bin laden movie warrant an allegation? no, bin laden is an important figure, evil one, in american history. republicans just fear that having the movie so close to the election will influence votes. carol costello is back with more of your responses. cream is really what makes it. i think you'll find it's the vegetables. the crunch... the texture. deliciously rich. delicious. fantastic! flavorful. [ cow moos ] hey, maybe we could... work together? [ female announcer ] introducing new stouffer's farmers' harvest. now classics like grilled chicken fettuccini alfredo
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you have been sounding off on the talk back question. carol costello is back with some of the responses. what are folks saying? >> today's "talk back" question, does hollywood making a bin laden movie warrant an investigation? >> it does, if it's time for political persuasion. release the film after the elections and there should be no corruption of the voting process. and this from jonathan, why is this even a topic. have to turn a positive into a negative and say things that may not be correct, and things that are unsourced and say them over and over and over again. and this from dirk, maybe we should investigate how much time investigating finding things to
investiga investigate. and this from max. of course we need an investigation. anything to get our legislators from running the government into the ground. we will be with you in a couple minutes. >> they're not holding back, not today. thank you again. two cities in california that are 250 miles apart. one has the state's highest unemployment rate and the other the lowest. we'll find out why. [ woman ] welcome back, jogging stroller.
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let's take you live to an event taking place in a iowa state fair. this is where people have gathered for debates. mitt romney speaking before a group of people got heckled a bit by somebody who was frustrated. take a look at the exchange that happens minutes ago. >> we have to rise to 44%. >> sir, i am on social security. >> i am glad you are on social security. hold on just a minute. hold on just a minute. >> you came here to listen to the people! >> now, wait. >> we're on social security, and -- >> a bit of a testy heated
exchange. mitt romney listening to a gentleman saying he was worried about his social security and where that will go, and obviously in this climate of an uncertain economy, and the debt deal that was just negotiated that the president and people looking for answers, quite frankly, about where the economy is going. a lot going on in iowa, and a lot of politics and presidential hopefuls trying to answer questions to those who are a bit frustrated. >> now, cnn's casey ryan found two cities on the top and the bottom of the chart, and life very different, but in some ways the same. >> reporter: an agriculture
community has the biggest unemployment rate. >> it's very hard looking for work. >> how many jobs do you think you have applied for in the last three or four months? >> probably like about 20 to 25. >> i am discouraged, i guess. >> reporter: nestled in the hills 250 miles north, downtown seemingly a world away. >> you have stay at home soccer dads who can afford to stay home and not be part of the workforce. you have small businesses here that are individually owned and home-based businesses as well. >> here is the picture graphically. the unemployment rate is nearly 37%, and nine times that are lafayette's at 4%. the swansons moved here because of the public schools.
>> the public school system tends to be something that draws people to the town. >> we felt if we could live in the community and send our kids to the public school, we would rather do that. >> and convenient public transportation helps. 20% of the residents are retirees. and 20% of the people here -- >> i carry the bags of beans and stuff that my sister and mom used to harvest. >> reporter: now many of the jobs are done by machine. >> little by little, all the workers that would have done that, now they are being phased out. so cities like dalano, they are not prepared for that.
>> reporter: this is her first week as the dalano city manager. >> we have jobs in the works that will help the job creation. >> reporter: several hundred jobs could come to the center at walmart, and more could come from the citrus packing plant. >> they are trying to take steps forward, and yet with the economy and people being in such a mode of caution, it holds you back. >> reporter: here in dalano there are plenty of signs that the city struggles to create jobs, and downtown the economy is strong, strong enough to support 65 restaurants in a town of 24,000 people. the government encouraged residents to shop locally and doesn't fix roads unless there is money to pay for it.
>> it's great that we have a low unemployment rate. but we have 4% of the people unemployed, and they are affected just as much as somebody who has been unemployed with the community. >> and lafayette has something else in common, the theater also shut down showing no job is safe. top of the hour. i am suzanne malveaux. investors continue to confound the experts. the yo-yo swings going on one day and selling off the next, and right now the dow blue chips are up by 249 points. the best explanation for today's gains, well, good corporate earning reports and favorable jobs report. a positive single today for
people looking for work. fewer americans filed first-time jobless claims last week. the labor department says it got 395,000 initial claims. that's a problem of 7,000. and the first time that the number has dipped below 400,000 since early april. president obama is now flying to midwest right now to showcase new jobs, and he will visit a factory in holland, michigan, that makes advanced batteries for electric and hybrid cars. air force one is getting ready to take off. the plant was built with the help of federal stimulus money. it will create 150 new jobs. we will provide live coverage of the event happening at 2:40 eastern. there you are seeing the live picture of the president readying the chopper is pulling up, and he will depart from
andrew's air force base and will highlight that program. the president is drawing heat for business as usual during the new round of economic turbulence. >> i think what americans are looking for now is some seriousness in washington, and frankly that's not going to come from some bus tour on the campaign trail for the president. a growing number of people think he ought to get off of the campaign trail and pull people together and get a bipartisan answer on jobs. a few protesters challenged police, but streets in london and other cities were mostly calm overnight. in fact, it was much more action in the courts as judges stayed on the bench all night to process hundreds of arrests in the weeks rioting and looting. prime minister cameron said
this. >> to the law abiding people who play by the rules and the overwhelming majority in the country, i say the fight back has begun, and we will protect you. if you had your livelihood damaged we will compensate you, and we're on your side. and the criminals who have taken what they can get, i say this, we will track you down and find you and charge you and punish you. you will pay for what you have done. >> the statements are the violence and looting costs $161,000 in looting. and one suspect in the grim sleeper case. detectives will now review 230 missing persons cases and homicides in franklin's neighborhood going back in the 1970s. the grim sleeper case got its name because of a 14-year gap in
the killing spree. and the doherty siblings may make their first appearance in colorado perhaps as early as today. two brothers and their sister were finally captured after eight days on the run. police grabbed the trio after they were chased and crashed. they opened fire on a police officer and then robbed a georgia bank. a soldier disguises himself in a baseball uniform. when daughter law harlow through the first pitchout at a game in mississippi, she had no idea the catcher was her husband secretly home from afghanistan. >> it took a couple of seconds.
but initial shock, and just overwhelmed. >> nine months since i have seen her, and i wanted to make sure she remembered what i looked like. >> i didn't through that mask! >> major harlow said the last time he surprised his wife, she fainted. a rally today is providing some relief from the stomach churning ride on wall street. stocks are in positive territory. alison kosik is on the floor of the new york stock exchange. alison, you know, it can make you a little sea sick what we are watching here. what are the markets doing right now and how do we explain this? >> we are happy to be off the roller coaster ride at least for the past couple hours. we have the positive economic report.
and they fell last week, and we have strong corporate earnings. and wall street likes to watch cisco systems because it's a bellwether for the tech center. we're seeing the nasdaq up almost 3%. and bond yields are rising. and it shows investors are willing to take on risk and dive into the stock market more. and don't get too comfortable, because it's still volatile. you are seeing wall street still on edge. we have seen the dow make the triple point swings all week. not to say it won't happen by the end of today, but right now we can be happy the dow is up 283 points. >> thank you, alison. concerns now about europe's debt crisis are keeping investors jittery. we want to go to cnn's richard quest who joins us from london.
great to see you. tell us what the latest is in overseas markets and the rumors we're hearing about france's credit rating? >> the european markets have been closed about an hour also, and the best gains was seen in london up more than 3% looking at the charts. italy had a strong session. up 4%. what this tells me is that the direction came from the united states, and as indeed it has so often in recent days. also, there was no grim news out of europe. whatever misery there might have been over a france downgrade which did not happen or worries about french banks which are not confirmed, and that has not been the mood of the markets today. >> richard, what else is driving the international markets? how is that impacting the stocks here in the united states? >> there is one interesting tidbit to past on today.
the british chancellor, in an emergency -- you talked about the prime minister for the riots emergency debate, well the chancellor made an emergency financial statement, and he had a sideswipe of the united states, and it was a veiled swipe, you and never want to kick the u.s. publicly too much, and he talked about how the uk's austerity is doing so much good for britain when other countries wrestled with paralyzed political systems. i can only assume he must have meant the united states after last week. and this is the kicker. he says surely we have learned growth cannot come from debt. those that spent last year telling us to follow the american example with more fiscal stimulus need to answer why has the u.s. economy grown more slowly than the uk this year? and so an unusual little -- not quite the knife going all the way in, but a bit of a kick as if to say the austerity of
britain is nonnegotiable. >> yeah, a little dig there at the united states. there has been back and forth in terms of what is the best way to deal with the crisis, whether or not you pump money into the economy or cut back a little bit. thank you very much. appreciate it. here is your chance to talk back on one of the big stories of the day. the director of the movie "the hurt locker" is working on a movie about the raid that killed bin laden. and it prompted one u.s. congressman to ask for an investigation. carol costello is joining us from new york with the "talk back" question. help us understand that. i don't know why that would be the case for an investigation? >> the big hollywood producer wants to consult with president obama, hence this question, our "talk back" question today, is hollywood making a bin laden movie warrant a federal investigation, because like
everything else this has become a political hot potato, a sad thing since bin laden's death was so unifying. >> tonight i can report to the american people and to the word that the united states has conducted an operation that killed osama bin laden. >> remember how people celebrated? look at that. it was a great memory! it was a secret mission that played out like a hollywood movie, and don't you know it, a hollywood movie on bin laden will be released in october of 2012, just ahead of the november elections. republican representative, peter king, is outraged. >> we're talking about revealing classified information that could put american lives at risk, and what the administration has done. >> congressman king wants the insprekter general whether hollywood is getting special access to classified information
to the president. the white house says, please. >> first of all the claims are ridiculo ridiculous. when people are working on articles books or movies involving the president, and we do our best to accommodate them to make sure the facts are correct. >> it's not like they are giving permission to use the photos or video of him being buried at sea. come 2012, the story of the top secret mission will be opening at a theater near you. the "talk back" question today, does hollywood making a bin laden move warrant an investigation? facebo
process to shore up the ranks of the country's most elite fighting unit. second, in the middle of a war zone. one man has a unique weapon. a paint brush in the fight for freedom. or third, secret american agents heading south to help fight in the drug war in mexico. a closer look at the new partnership between united states and mexico that may be behind recent high profile arrests. you can vote by texting 22360, text "1" for shoring up navy s.e.a.l.s, and "2" for libya street artist or "3" for the u.s. agents in mexico. fears about the global economy pushed prices of gold to record levels. mary snowe spoke with buyers and
sellers getting in on the gold rush. >> reporter: the rest of the world may be worried about the economy, but todd sees pay dirt. he buys and sells gold, setting up road shows across the country. after s&p downgraded u.s. debt he extended his time in new york, and he knew it would cause more gold prices to soar, and banked on people cashing in. these two grandmothers are first-time sellers. >> with the price of gold, we probably would melt this. >> reporter: this woman brought in her family jewelry. >> what made you do this? >> well, i needed some money, you know, times is hard. i figure i had it. >> reporter: while people are cashing in on record gold prices, others are buying gold. >> since the lehman brothers collapse and the madoff scandal, i have talked to so many people
that lost faith in paper investments and institutional integrity. >> reporter: michael clark is president of a business. >> this is probably some new where we have seen corporations are investing some of their retained earnings in precious metals. >> reporter: ryan mac doesn't advice client to buy physical gold but in funds, and increase 20% of portfolios which is high. he warns about a rush to gold without a strategy. >> if you put all your eggs in one basket, and as fast as gold
york in less than 12 minutes. they are testing the craft that can fly 20 times the speed of sound. looks like they lost contact with the aircraft. chad, this is unmanned, right? >> yes, and first of all, talking about flying you from l.a. to new york in 12 minutes is one thing, and flying a weapon from new york to l.a. or around the world is less than an hour is what they were going, scram jet technology, and going back towards the space and through the space like the space shuttle does, almost burning up as it re-enters, and the edge of the wing 3500 degrees, and it's like a big oven mitt. they will not put people in it. but they did lose contact on
what is called the glide. this is going so fast. almost 13,000 miles per hour. and the reason why airplanes fly is because the wing on top is curved and the wing on the bottom is not. so if you take the air, you can make the paper rise. that is what makes a plane rise. this is shooting through the atmosphere and breaking air apart as it flies through. they are trying to fine ed something other than an icbm that can get around the earth in less than an hour, and it looks like we lost contact. >> that's not good? >> that's not good. they tried it before. they had nine minutes of good flight in april and that was about -- it was a really good diagnostic. it's like trying to drive around a pothole going about 1,000 miles per hour, and you are going to lose control.
and maybe somebody else will find it. it will go in the ocean, and it's not flying over new york and will crash somewhere. it's in the pacific ocean and it's gone. >> technology is so cool. >> wish it would have worked. >> maybe they lost contact and will get back disturbance. >> there's not a black box. they will not find it. they will try and find the pieces. it's supposed to crash down in the ocean, and it did. >> thank you, chad. cool stuff. times for tough. we want somebody to reassure us things will be okay, and some are asking where is the leadership from the white house to congress. john avalon will weigh in for us. first, cnn reporters and anchors cover stories from all around the world, and we get great tips on restaurants, and hotels and hot spots, and we go to a
favorite fish and chips restaurant in a soho neighborhood. >> reporter: i just popped in real quick to have as they say here a nibble. this is a cool area. it's so diverse. the cuisine is legend. legend has it is this used to be a hunting ground, and people used to run around and say so ho, and it wthis is it, and thi my fish & chipper as they say around here. it's amazing and the people are cool, and it's a secret getaway here for me, and they make it in four minutes. let me show you. the secret to good fish & chips is in the oil and batter.
winston churchill called it good companions when he talked about fish & chips, and michael jackson loved to smoosh fish & chips with lots of peas. me, i just like tabasco on it. i will just dip it in there. thank you so much. great to see you. here it is, my favorite fish & chipper. zain virgie. have i got a surprise for you! [ barks ]
>> that's right. we're up to 12, which is the number they tried to reach. these are the people selected by the house minority leader nancy pelosi. the people selected to the committee, jim clyburn, and bocerra, and van hallon. and we reported earlier, there had been concerns floating around that the panel as named, at least up until now, lacked diversity. there was one woman where there were no minorities, and so in that way, nancy pelosi, who was probably more susceptible to political concerns about minorities and woman because she's a democrat leader in the house of representatives has actually brought on an african-american in jim clyburn, and a latino in javier bocerra,
and van hallon, and these are the last three names. now this committee will have to get down to the important work of trying to figure out where to find, you know, $1.2 trillion or more in adjustments to try to -- to move towards fixing the deficit. they have got a lot of deadlines to work on. they need to get this thing before -- you know, some type of an agreement if they can by thanksgiving, and some type of bill before the house of representatives to be voted on before christmas. again, those three names are jim clyburn much south carolina, and javier bacerra, and van hallon. >> we know there is ethnic diversity, and clearly diversity of thought when you have jim
clyburn that jumps into the committee as well, yes? >> yes, all loyalists of nancy pelosi, that much is clear. certainly clyburn and bacerra are on the left side of the spectrum. and bacerra is a guy that stands his ground. >> thank you for bringing us the news. we're watching the markets. the stocks are in positive territory so far today. that's an encouraging report on jobless claims helping to push stocks higher. the dow jones looking at 257 increase, and we will keep you updated on how the markets are doing as well. we don't have to tell you, times are tough and the stock market is up 400 points one day and down 600 the next, and when
times are uncertain, people look for leadership. critics are qug westher congress and president obama are up to the challenge. joining us to talk about that is cnn contributor john avalon. john, first of all, if you can, weigh in for us if you will some of the new picks we heard from nancy pelosi, anybody stand out now that we have the set of 12 that have been selected for the bipartisan committee? >> i think you are seeing a clear pattern at this point. we know the full committee and each of the groups that have been appointed and contain two hard point hardliners and one swing swoet. it's clear chris van haullon is the swing pick, and clyburn is the democratic base in the house. you have portman playing that role, and max baucus among harry reid's picks. you are seeing a clear pattern
here. each of the party leaders are picking loyalists. members of the gang of six excluded. you have party loyalists and each of the picks contain one sen tris swing vote. >> so it looks like it's evenly matched when you look at both sides here. we have been looking at the stock markets, the volatility of the stock markets, and some are nervous about it. and this is what david gergen said on "ac 360" last night. >> normally in a crisis there's somebody that steps forward, normally the president who steps forward, and you have a sense that somebody has their hands on the wheel and knows where we're going, and can guide the ship, and there is a consensus, nobody
is in charge, and there is nobody here to give us that sense of reassurance. >> john, do you think that's a fair criticism here? you have the president who is going off to michigan and going to talk about creating jobs with, you know, the new batteries and that type of thing, but does he need to be doing more right now? >> i think so. david gergen makes an important point and a potentially devastating point for the president, and in the bad economy there does seem to be a vacuum of leadership. the new poll shows 78% of americans are dissatisfied with the way the political system is working, and we do elect presidents to be the steady hand on the tiller. supporters of president obama will argue he is a reasonable man in an unreasonable time in an unreasonable town, but you are starting to see a critique emerge. there is historically a reason why we elected executors.
and so i will -- i do think you will see that kind of a critique emerge, and president obama needs to seize the reigns and make it clear he is in charge. >> you have congress that is on recess, and the president who is going to martha's vineyard for vacation next week. how does this play out next week when people are looking at the markets and they continue to go up and down? >> well, it's one of these political myths that august is a quiet month. and that does not apply to this august. and the world doesn't abide by school and summer breaks. there's a need for people to show they are in charge. and that is not to say bringing everybody back to congress is going to solve problems, because there's stalemates. but the president does need to show that he is simply not pivoting to campaign mode and needs to put forward a plan
about job creation, and needs to assert his political control. and it's not just the president though. congress is at an all-time low in terms of the approval rating. independent voter swing against the republicans in the house in particular. and the problem is general to washington and not specific to anybody individual or even the president per se. >> do these folks need to come back to work, basically? we know the president is always working when he is on vacation, even, but members of congress do they need to get back together and start to work on this now as opposed to taking a break? >> i think if any of us had faith if they came back to work they would find a way to work together, and that sounds like an option given the seriousness of the problems we face. but hyperpartisanship is stopping us from stopping the serious problems they face. i would dock their pay until
they balance the debt problem personally. >> a lot of people feel that way probably. and choose the news, text "1" for the shoring up navy s.e.a.l.s, and then text "2," a libyan using his paint brush in the fight for freedom, and "3" for secret american agents heading south to help fight the drug war in mexico. winning story will air late krur this hour.
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water canyon and taken to an fbi lab. in washington state, a teenager boy who was pulled out to sea by strong currents actually survives. he was part of a church group visiting long beach when witnesses say a riptide dragged him under water. after several days in intensive care, he is awake and talking to doctors. there's a bull! you might want to run! run this way, partner. run! >> not your usual night on the job for a police in auburn, washington. they were chasing a bull in their squad cars, and it was caught and nobody was injured. wisconsin well known for the beer, a tour company doing well in a tough economy. the sons of former slaves
cnn depth, america's jobless. if you are looking for work, head to wisconsin. the state has added 39,000 jobs so far this year, and one small business is a brewing company, and that's where we find ted rollins in new glarus, wisconsin. people are drinking, sales are adding up, and adding jobs, and what are they doing right? >> one thing they are doing right is making a product. beer. everybody loves beer, suzanne. the bottom line is that this is one of those small companies
that over the years has had gradual success. the company owners say they have been strategic in the way they have been able to build on their company, and they have been able to give people an opportunity. this is jason here, and he lost his job a year and a half ago, and he was out of work for a year and a half. give us a sense of how difficult it is out there. you have three daughters and now a full-time job and how blessed do you feel? >> very lucky. there are not a lot of jobs out there. i have friends that i worked with before that have not found work, you know. i am very thankful to work here and it's a great place to work for. without this place i probably would have lost my house. >> a lot of people obviously are in jason's position, and they are losing their houses and going through that. the president and owner is deb carry, and her husband started the business in 1994. you said washington and state
capitals are not helping the small business owner out because the big businesses are the ones that afford lobbyist and they are the ones in control in this country, and you feel like they need to change. >> yeah, i think the political system has been hijacked by lobbyists, and some people like ourselves we're having an issue in this state, and we're looking for competitive advantages to be found within the budgetary system is what we just came up again. >> you think the tax credits for new employees, and for building up businesses, more of that needs to be done? >> yeah, the health care credits i am excited about. how about support for schools? we really are short on skilled trades, like it would be wonderful if welding, construction, when you are talking about computer skills, why are they learning to play games? we need people to program
machinery. nobody is touching that. >> a good positive story on the job front here at the new giarus brewing company. they make the greatest product on earth here. >> absolutely, ted. cheers to all of those guys. thanks, ted. we're getting a lot of responses to today's "talk back" question. we asked does hollywood making a bin laden movie warrant an investigation. carol costello is back with your responses, but first freemany advice from the cnn financial help desk. >> and we have our guests, and thank you for coming in. two very interesting questions. the first comes from less and gord gordon is this.
>> that's an interesting question, so it's just another fancy way of saying savings bonds. the interest on that is exempt at a state and local basis. on the chopping block for federal taxes, however, if you use the proceeds for qualified educational expenses, or to contribute into a 529 for yourself, your spouse or dependents, you can avoid taxation. unfortunately, it can't be grandkids unless the grandkids are considered depepependents u the irs definition. >> and this question --
>> the student loans tends to be the permanent money on your back until you pay it off. and you can't just get rid of them in a bankruptcy like you can get rid of unsecured debt. the only thing that concerns me about the question is the amount. $43,000. that's a lot of money. the 4.75 interest rate is killer, and it's tax deductible, and he's in a good position. one word for him. forbearance. call the lender and ask them for a forbearance. you don't have to make payments for a period of time. but it will give him some safe harbor for a period of time where he can get back on his feet and afford more than the minimal amount. >> and you have to wonder what sector he is working in, and there are jobs in the public sector that will forgive your loans. >> yeah. can i have some ice cream, please ?
no, it's just for new people. hey ! chocolate, vanilla or strawberry ? chocolate ! chocolate it is ! yeah, but i'm new, too. umm... he's new... er... than you. even kids know it's wrong to treat new friends better than old friends. at ally bank, we treat all our customers fairly, with no teaser rates and no minimum deposit to open. it's just the right thing to do.
information as "blackhawk down." and this from diana, the question is not about the propriety of the film but about the inappropriate and release of classified information. there are legal and national security ramifications, and as search an investigation is not just proper but necessary. this from christina, of course it's a republican legislature that wants an investigation. if this is happened on president bush's watch there wouldn't be an investigation period. this from nathan, no, no, no in the midst of the debt debate do we have the money to waste on some investigation. hey, mr. king i thought the republicans were the party of cutting spending. absolutely ridiculous. keep the conversation flowing, and thank you for your comments. >> thank you, carol. you told us what you wanted to see. your choose the news story just moments away. it was not until the university of phoenix
that i was able to work full-time, be a mom, and go to school. the opportunits that i had at the university of phoenix, dealing wh profesonals teaching things that they were doing every day, got me to where i am today. i'm mayor cherie wood, i'm responsible for the largest urban renewal project in utah, and i am a phoenix. [ male announcer ] find your program at phoenix.edu.
you know -- stuff. yeah. about that. that big wheel behind us... yeah? he's got a flat-screen, swivel chairs, and a fridge. oh. hey, man! can we come over tonight? it's surprising just how affordable an rv vacation can be. visit gorving.com and get a free video. or see an rv dealer. go affordably. go rving. you voted, and welistened. here is your choose the news winner. and this is the long and expe e expensive process to train navy s.e.a.l.s. a devastating loss for families and friends and teammates. the 22 s.e.a.l.s killed in afghanistan among the unit elite. at various times it has been
called s.e.a.l. team six. >> how tough will it be to fill the void on the team? >> it will be a challenge, no doubt. just to be a u.s. navy s.e.a.l. from the point you want to voluntary until you are in combat for the first time is about 3 1/2 years. >> and another two years of training and deployments to be on s.e.a.l. team 6. and they tracked down war criminals in the 1990s, and they tell us s.e.a.l. 6 team members are taking from the ranks of other existing teams, and half of the men that try out wash out. these are the guys that go on precise capture or kill missions like bin laden. >> how do they think on the battlefield than other s.e.a.l.s? what do they do that is different? >> you have to verify a threat, and then in an instant you have to determine whether or not that individual was a threat or
whether he is not and if he is, you have to engage. these individuals can shoot exactly what they aim at. they make the judgment in an instant, and they are there for what they do. >> there are about 200 members of s.e.a.l. team six, and that means the helicopter crash in afghanistan took away about 10% of the unit. i spoke with military analysts, lieutenant anthony shafer about how the team in afghanistan could be shored up. will they have to shuttle in other guys? >> they may have to degrade the mission in iraq and move to afghanistan, and the problem is things in iraq have not been as stable as people would like them to be, and therefore you are degrading that mission. they will move one of the standby units, and move them in ahead of schedule. >> reporter: but that